Unified Pension Scheme: Union Cabinet Approves Assured 50% of Salary as Pension for Govt Employees
The Union Cabinet has approved a proposal to guarantee 50% of the last drawn salary as a pension for central government employees under the Unified Pension Scheme(UPS).
The Union Cabinet has approved a proposal to guarantee 50% of the last drawn salary as a pension for central government employees under the Unified Pension Scheme(UPS). This decision follows concerns over pension disparities, prompting Finance Minister Nirmala Sitharaman to form a committee led by Finance Secretary TV Somanathan to explore the initiative. The new scheme aims to provide greater financial security to government employees post-retirement. Union Budget 2024: Finance Minister Nirmala Sitharaman Proposes ‘Vatsalya’ Pension Scheme for Minors in Budget 2024-25.
Unified Pension Scheme
Union Cabinet approves assured 50 per cent of salary as pension for govt employees under Unified Pension Scheme
— Press Trust of India (@PTI_News) August 24, 2024
(The above story first appeared on LatestLY on Aug 24, 2024 08:00 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).
